IRB SLAPS NAJIB WITH RM1.5B TAX BILL
RM4 billion taxable income from 2011 to 2017 includes RM2.6 billion ‘donation’
FORMER prime minister Datuk Seri Najib Razak has been slapped with an extra tax bill of about RM1.5 billion by the Inland Revenue Board (IRB).
A financial daily yesterday quoted sources saying that IRB had sent a letter to Najib more than a week ago on the backdated tax amount for 2011 to 2017.
IRB’s assessment found that Najib had not declared his taxable income of close to RM4 billion
for the period.
The daily quoted sources as saying that the amount included the RM2.6 billion donation that Najib claimed to have received from Saudi Arabia.
Najib posted on his Facebook page saying that political contributions were not taxable under the law.
“Firstly, political contributions, including from the Finance Ministry of Saudi Arabia, are not subjected to or taxable under the law.
“Secondly, as it has been known by the public, income obtained from foreign countries is not taxable under the law,” he said.
The Pekan member of parliament’s trial in the abuse of SRC International Sdn Bhd funds is scheduled to start tomorrow.
He is facing seven charges involving RM42 million belonging to SRC International Sdn Bhd.
SRC is a former subsidiary of 1Malaysia Development Bhd (1MDB), which is now under the Finance Ministry.
On July 4, Najib was charged with three counts of misconduct and one charge of abusing his position in SRC International.
On Aug 8, he was charged with three counts of money laundering involving the same amount belonging to the same fund.
On Sept 20, Najib was brought back to the Sessions Court and charged with four counts of corruption amounting to RM2.28 billion of 1MDB funds and 21 money laundering charges.
He appeared in court here yesterday when the 1MDB case came up for mention.
On Oct 25, he and former Treasury secretary-general Tan Sri Mohd Irwan Serigar Abdullah requested that the case be heard at the Sessions Court on six counts of criminal breach of trust involving RM6,636,065,000 owned by the government.
On Dec 12, he pleaded not guilty at the Sessions Court here on a charge of using his position by ordering the final audit report on 1MDB to be amended before tabling it to the National Public Accounts Committee to avoid any action. Until today, Najib has been charged six times with 42 charges.